Abitibi reaches milestone on path to Ch 11 exit

摘要

A US bankruptcy court in Delaware today was to begin its confirmation hearing for AbitibiBowater's Ch 11 reorganization plan, a process that is expected to end with court approval for the restructured company's emergence from the bankruptcy process it began 18 months ago. Quebec's Superior Court sanctioned the plans yesterday under Canada's Companies' Creditors Arrangement Act, a move Abitibi pres/CEO David Paterson described as "a major milestone in the successful restructuring of our company."